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BUSINESS
March 12, 2010 | By E. Scott Reckard
The average interest rate on a 30-year fixed-rate mortgage dropped to 4.95% this week from 4.97% last week, Freddie Mac said Thursday. The mortgage giant's weekly survey asks lenders what rates they were offering -- and the upfront fees they would charge -- for borrowers with good credit and a 20% down payment. Upfront fees averaged 0.7% of the loan amount. The average rate offered on 15-year fixed-rate mortgages, popular as a refinance loan for borrowers wanting to pay off their mortgages faster, was 4.32%.
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BUSINESS
March 28, 2013 | By E. Scott Reckard
Borrowers with solid credit were being offered 30-year fixed home loans at an average 3.57% this week, up from 3.54% a week ago, according to Freddie Mac 's latest survey. The average offering rate for a 15-year mortgage -- a popular option for those refinancing homes -- rose from 2.72% to 2.76%, the home-finance firm said Thursday. The starting rate for loans that are fixed for five years before becoming variable rose to 2.61% from 2.68%, the survey found.  QUIZ: How much do you know about mortgages?
BUSINESS
March 7, 2013 | By E. Scott Reckard
Unlike the rampaging stock market, mortgage rates are in a holding pattern, with lenders offering the 30-year fixed loan this week at an average 3.52%, up from 3.51% last week, Freddie Mac said in its weekly survey. The interest rate on a 15-year fixed loan, a popular choice for borrowers refinancing mortgages, held steady at 2.76%, Freddie said Thursday. Borrowers would have paid 0.7% of the loan amount in upfront fees to the lender. QUIZ: How much do you know about mortgages?
BUSINESS
May 3, 2012 | By E. Scott Reckard
Stop me if you've heard this before, but mortgage rates are again at record lows, with lenders offering 30-year loans at an average of 3.84%, Freddie Mac's weekly survey shows. That's down from 3.88% last week and a previous record low of 3.87% in February. All of the rates would have seemed unimaginable as recently as 2008, when the 30-year rate averaged more than 6%, or 2009, when the typical rate exceeded 5%.  The 15-year fixed mortgage also dropped to a new record, according to Freddie Mac, the big government-supported loan buyer.
BUSINESS
August 14, 2013 | By E. Scott Reckard
Fixed mortgage rates held steady this week, according to home finance giant Freddie Mac, with lenders offering the 30-year home loan at an average of 4.4%, the same as last week. The average rate for a 15-year fixed loan was 3.44% compared to 3.43% a week ago, which is statistically unchanged. Start rates on adjustable mortgages were slightly higher, according to McLean, Va.-based Freddie Mac. The 30-year fixed rate hit an all-time low of 3.31% last November. The current higher rate would mean a person borrowing $200,000 now would pay $125 more per month compared with a person who borrowed when the rate was at its lowest, said Frank Nothaft, Freddie Mac's chief economist.
BUSINESS
March 6, 2014 | By E. Scott Reckard
The cost of a home loan dropped early this week on less than robust news about the economy and housing, with Freddie Mac reporting that the average interest rate for a 30-year fixed mortgage was 4.28%, down from 4.37% a week earlier.  The average for a 15-year fixed mortgage was 3.32%, down from 3.39%, Freddie Mac said Thursday in its weekly survey of what lenders are offering to solid borrowers. The average start rate for a popular type of adjustable mortgage with a fixed rate for the first five years edged down from 3.05% to 3.03%.
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